Bulgaria annual deflation down to 1.0% in July

Written by on August 12, 2014 in Business - Comments Off on Bulgaria annual deflation down to 1.0% in July

Bulgaria’s consumer price index (CPI) rose by 0.4 per cent in July, reducing the annual deflation figure at the end of the month to one per cent, data from the National Statistical Institute (NSI) showed on August 12.

This was only the fifth month with CPI inflation in the past 12 months and only the second one of 2014. The main source of inflation came from a 0.9 per cent increase in service prices, while food prices rose by 0.4 per cent and non-food prices were 0.1 per cent higher than in June.

In annual terms, food prices were flat compared to July 2013 and non-food prices were 0.9 per cent down. Services were 2.7 per cent cheaper, as the first of three electricity price cuts ordered by the regulator last year now part of the baseline figure – and with the second price cut set to become part of the baseline in August.

The harmonised CPI figure, calculated by the statistics board for comparison with European Union data, rose by 0.6 per cent in July. On an annual basis, the harmonised CPI recorded 1.1 per cent deflation, down from 1.8 per cent recorded in the previous month.

Food and beverages were 0.3 per cent cheaper, on an annual basis, while the price of utilities and rent has fallen by 2.5 per cent and transportation costs were down 0.9 per cent over the previous 12 months. The three categories account for just over half of the harmonised consumer price index.

(Photo: svilen001/sxc.hu)

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